41. In the past, successful musicians have sometimes "capitalized" their royalty payments. In other words, they sell their future royalty cash flows in exchange for a one-time cash flow today. Suppose that Neil Diamond decides to capitalize his royalty payments into one payment today. He will sell the rights to Sweet Caroline Investment Bank, and the bank will sell the royalty payments to interested investors. PMT, Diamond's projected royalty payment for the upcoming year is $20 million dollars. His record sales are declining by 5% per year (along with his royalty payments). The investment bank selling his royalties will do this analysis over a 30 -year period. If Mr. Diamond wants a 12% annual return on his royalty stream, how much will he ask for from the investment bank today in exchange for his royalty rights